1.      Establishing a Metrics Data Set for analysing Financial and Educational Efficiency 

At Steed Education we have developed a key metrics data that allows school leaders and board members to track key trends and to make informed decisions that ensure the financial and operational health of the school.

Steed Education works with the school finance department and the academic SLT to create a metrics deck which sets the school up for coming years, without the need to bring in further external support.

For the Senior Leadership Team (SLT)

High quality financial and operational data allow senior leaders to spot key trends that impact on staffing levels in each part of the school, such as subject uptake at GCSE, A-level and IBDP

For Governing Bodies

Governing Bodies need high quality financial and operational data that is consistent from year to year in order for them to ask informed questions that allow them to hold to account the school SLT.

These data will allow the board to spot trends, such as an increase in staffing or a drop in numbers or teacher-pupil ratios in a particular part of the school and then to ask informed decisions at board meetings.

a)      Financial Metrics 

o    Indicators of financial health 

o    Staffing costs v income 

o    Discounting (scholarships, bursaries, staff discounts, etc.

o    Analysis of teacher pay scales and pay points 

o    Average salary 

b)     Operational Metrics 

o    Teaching contact time 

o    Class size 

o    Teacher-pupil ratios 

o    Subject uptake 

o    Departmental size and efficiency. 

 2.      Identification of potential areas for cost savings

Steed Education can support School Leaders in reducing their staffing costs. We have developed a number of tools which enable schools to reduce their educational staffing costs.

The key to an effective staffing cost review is to identify those areas that do not impact significantly on the core educational offering.

Ultimately, it is about a school achieving value from its staffing budget.

These include:

o    Identifying departments which are overstaffed;

o    Identifying option subjects which are no longer viable;

o    Exploring alternative models for teaching ‘unviable’ subjects;

o    Reviewing the salary scales and recruitment policies;

o    Drafting bar point progression criteria;

o    Review of allowances paid to staff for additional responsibilities. 

o    Review of the number and remit of senior leadership roles;

o    Review of teacher commitments (teaching, admin, co-curricular contribution and pastoral responsibilities;

o    Review of teacher non-contact time;

3.      Additional Services

Steed Education can provide additional services to support a cost reduction programme. These include 

o    Project Management of the Cost Reduction Programme;

o    Project management of a migration from old scales to new

o    Human resources support;

o    Running sessions for SLT on how they might reduce costs.

o    Running sessions for Boards on the dynamics of staffing cost reduction.

o    Providing expert services for Salary Review Appeal Boards.